The Journal of the Convergence on Culture Technology (문화기술의 융합)

The International Promotion Agency of Culture Technology (국제문화기술진흥원)
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The Effects of Ownership Concentration on Savings Bank Diversification by using Panel Data

패널데이터를 이용한 저축은행 소유집중도와 다각화

  • 배수현 (대구가톨릭대학교 경영학부)
  • Received : 2019.02.11
  • Accepted : 2019.04.09
  • Published : 2019.05.31
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Abstract

The purpose of this study is to analyze the relationship between the controlling shareholding ratio and the business diversification of savings banks The difference in this study is the analysis of the relationship between the controlling shareholding ratio of the savings bank and the business diversification using panel data. In this study, the semi-annual financial statements for the period 2014-2018 were used on the basis of a sample of 79 saving banks. The research model is analyzed using random effects generalized linear square (GLS) model considering the autocorrelation problem. As a result of the empirical analysis, it is estimated that the relationship between the controlling shareholding ratio of the savings bank and the business diversification is significant (+). This is the result of supporting the hedging hypothesis.

본 연구는 저축은행의 소유집중도와 사업다각화 간의 관계를 분석하고자 함이 목적이다. 패널데이터를 이용하여 저축은행의 소유집중도와 사업다각화의 관계를 분석한 것은 기존연구와의 차별성이라 할 수 있다. 분석기간은 2014년부터 2018년까지이며, 79개 저축은행을 대상으로 반기 재무자료를 이용하였다. 연구모형은 자기상관 문제를 고려한 확률효과 GLS(Random effects Generalized Linear Square)모형을 이용하여 분석하였다. 분석결과, 저축은행의 지배주주지분율과 사업다각화의 관계는 유의한 양(+)의 값을 가지는 것으로 추정되었다. 즉 지배주주지분율이 증가할수록 사업다각화를 대리하는 변수인 비이자수익률이 증가하는 것으로 나타났다. 이는 위험회피가설을 지지하는 결과이며, 지배주주지분율이 높을수록 사업다각화를 통해 자신의 자산위험과 고용위험을 축소시키기 위해 적극적인 다각화 전략을 추진하는 것으로 나타났다.

Keywords

표 1. 변수의 측정지표 Table 1. Variable Measurement

GJMGCK_2019_v5n2_77_t0001.png 이미지

표 2. 기초통계분석 Table 2. Technical statistical analysis

GJMGCK_2019_v5n2_77_t0002.png 이미지

표 3. GLS 분석결과 Table 3. Result of GLS

GJMGCK_2019_v5n2_77_t0003.png 이미지

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